After the brief “correction” in October, the market basically pulled a Men In Black where it essentially looked at the pen and proceeded to forget the past and resumed its ascendency to record highs. I made a couple of moves on my portfolios to bank some profits and to open some new positions. This is despite my feelings that the stock market is still overpriced.

You don’t need to be data dependentlike the Federal Reserve to figure out what’s going on in the economy. Just go to your local port and see how busy those cranes are in loading/unloading shipping containers. Right now, the cranes are in overdrive.

I’m always interested in hearing what the Soothsayer Consensus has to say about the present and future. Here are the latest pontifications courtesy of the Barrons. I’m more prone to take the other side of the trade.